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Sharewatch: Havelock Europa

More good grades

The Fife-based shopfitter now describes itself as an education supply, point of sale display and retail interiors group, reflecting the move away from less profitable shopfitting into the education and conference market.

Profits next week should begin to show the benefit of last year’s acquisition of TeacherBoards and Clean Air, and analysts are expecting £5m profits before tax, in line with market expectations.

The chief executive Hew Balfour’s pre-close statement said the company was expecting its third successive annual underlying increase. Investors such as the Edinburgh funds management company Artemis, which holds more than 3%, will be looking for more of the same